In another example of the growing impact of artificial intelligence (AI) on industrial software strategies, IFS, a cloud enterprise software company, has signed a definitive agreement to acquire Falkonry, an industrial AI software company that provides automated, high-speed data analysis for the manufacturing and defense industries. Falkonry’s AI-based, self-learning software continuously monitors large volumes of data for assets, machines, systems and industrial processes to discover and analyze unusual behavior and causes of failures.
IFS expects the acquisition of Falkonry to complete in Q4 2023. In IFS’s announcement of the planned acquisition, the company said, “The addition of Falkonry’s self-learning anomaly detection solution to IFS’s existing enterprise simulation and AI-based scheduling and optimization capabilities further evidences our strategy to use AI pervasively to provide end-to-end intelligent insights in EAM (enterprise asset management) across ERP (enterprise resource planning), MES (manufacturing execution system), PSO (planning, scheduling, optimization), FSM (field service management) and ESM (enterprise service management) technology to increase people and asset productivity.”
IFS also recently acquired Poka, a provider of connected worker technology for factory and field operatives. IFS said the combination of Falkonry and Poka with IFS Cloud positions IFS to help users more effectively develop smart factories.